Argus Partners

Argus Partners

Client Satisfaction

News and developments

Press Releases

Aseem Dhawan joins Argus Partners as a Partner in the Banking and Finance practice.

We are delighted to announce that Aseem Dhawan has joined Argus Partners' Delhi office as a Partner in the Banking and Finance practice, effective November 5, 2024.
05 November 2024
Press Releases

Priyanka Shetty elevated to Partnership in the Disputes & ADR practice.

We are delighted to announce that Priyanka Shetty has been elevated to Partnership in the Disputes & ADR practice of the Firm, effective November 1, 2024.
06 November 2024
Press Releases

Anindya Ghosh, Ashwin Krishnan and Anantha Krishnan Iyer joins Argus Partners as Partners in the Corporate/ M&A, Private Equity/ Venture Capital, Technology and Media/ Entertainment practices in Bengaluru.

We are pleased to announce that Anindya Ghosh (Equity Partner), Ashwin Krishnan (Partner),
24 October 2024
Press Releases

Argus Partners advises Henkel Adhesives India in entering into a captive renewable energy arrangement with CleanMax

We are pleased to announce that Argus Partners has successfully advised Henkel Adhesives India on its captive renewable energy arrangement with CleanMax,
02 October 2024
Press Releases

Aayush Kumar joins Argus Partners as a Partner in the Corporate and M&A practice.

We are delighted to announce that Aayush Kumar has joined Argus Partners' Mumbai office as a Partner in the Corporate and M&A practice including private equity and venture capital, effective September 9, 2024.                                                                                                                      
09 September 2024

EXCLUSION CLAUSES IN CONTRACTS BARRING A CLAIM FOR DAMAGES

I.   Introduction Section 73 of the Indian Contract Act, 1872 (“Contract Act”) is a statutory declaration of the right of a party to claim damages for a loss or damage caused by breach of the contract.
16 August 2024
Press Releases

Argus Partners Advises Conscient Sports on Collaboration with Real Madrid Foundation to Launch Educational Football Program in India

We are pleased to announce that Argus Partners has advised Conscient Sports on their landmark collaboration with the Real Madrid Foundation to develop Real Madrid's Educational Football Program for 4,500 students in the Indian cities of New Delhi, Mumbai, Pune, and Bengaluru.
02 August 2024
Press Releases

Argus Partners Advises Conscient Sports on Collaboration with Real Madrid Foundation to Launch Educational Football Program in India

We are pleased to announce that Argus Partners has advised Conscient Sports on their landmark collaboration with the Real Madrid Foundation to develop Real Madrid's Educational Football Program for 4,500 students in the Indian cities of New Delhi, Mumbai, Pune, and Bengaluru.
01 August 2024
Press Releases

Argus Partners successfully represents BCCI on the admission of its insolvency proceedings against BYJU`s

We are pleased to share that Argus Partners successfully represented the Board of Control for Cricket in India (“BCCI”) before the National Company Law Tribunal (“NCLT”),
17 July 2024
Press Releases

Argus Partners advises Whiteboard Capital on its stake sale in Dezerv to Premji Invest, Elevation Capital, Matrix Partners (aka Z47) and Accel

We are pleased to share that Argus Partners has advised Whiteboard Capital in relation to its stake sale in Dezerv Investments Private Limited (“Dezerv”) to Premji Invest, Elevation Capital, Matrix Partners (aka Z47) and Accel.
15 July 2024
Press Releases

Argus Partners advises Infinx, with respect to the equity investment by KKR and Norwest Venture Partners in Infinx

We are pleased to share that Argus Partners has advised Infinx group and its promoters with respect to the primary equity investment by Kohlberg Kravis Roberts (“KKR”).
29 May 2024

Assessing Damages in Construction Contracts – Part II

I.    INTRODUCTION This is the second part of our series on the subject of damages in construction and infrastructure disputes. The first part can be accessed, here.
07 May 2024
Press Releases

Argus Partners advises Dalmia Polypro Industries on raising USD 30 million external commercial borrowing from DFC for establishing a greenfield recycling facility in Maharashtra

We are pleased to share that Argus Partners has advised Dalmia Polypro Industries Private Limited (“Dalmia Polypro”) on raising an external commercial borrowing of USD 30 million from United States International Development Finance Corporation (DFC) for establishing a new greenfield recycling facility (“Facility”) in Nashik, Maharashtra.
08 April 2024
Press Releases

Argus Partners advises Balrampur Chini Mills Limited to establish India’s first industrial bioplastics manufacturing plant

We are pleased to share that Argus Partners has advised Balrampur Chini Mills Limited (BCML),
27 March 2024
Press Releases

Partner Promotions

It gives us immense pleasure to announce that Nidhi Arya, Rachika Agrawal Sahay and Udit Mendiratta have been elevated to the Firm's Equity Partnership,
22 March 2024
Press Releases

Argus Partners advises pharmacy start-up, Zeno Health on its $25 million Series C funding round

We are pleased to share that Argus Partners has advised Zeno Health, a health-tech startup and omnichannel pharmacy platform for generic and branded medicines, on raising $25 Million in its Series C funding round.
20 March 2024
Press Releases

Argus Partners advises Exponent Energy on raising $26.4 million in a Series B round led by Eight Roads Ventures

We are pleased to share that Argus Partners has advised electric vehicle charging infrastructure startup, Exponent Energy (Exponent Energy Private Limited) on raising $26.4 million in a Series B round led by Eight Roads Ventures.
22 March 2024

The Exclusive Jurisdiction of Courts regarding Wills -Scope for arbitration/mediation of disputes arising out of a Will

I.    Introduction A probate[1], as per the Indian Succession Act, 1925 (“Succession Act”), means a copy of a will[2] certified under the seal of a court of competent jurisdiction with a grant of administration to the estate of the testator.
08 December 2023

Angel Tax and the (un)Ease of Doing Business in India

I.     Introduction The provisions relating to angel tax in the Income Tax Act, 1961 (“IT Act”) were primarily introduced to regulate funding received by unlisted companies from angel investors and specifically, to curb money laundering and funnelling of black money into the start-up ecosystem.
08 December 2023

GREEN HYDROGEN (SERIES II): A PRACTICAL INSIGHT INTO GREEN HYDROGEN PROJECT DEVELOPMENT

I.    INTRODUCTION The green hydrogen sector has seen rampant development in recent years with the international community showing significant interest in reducing the reliance on fossil fuels and preventing harmful climate change.
08 December 2023
Press Releases

Argus Partners successfully represented HDFC before the Supreme Court against IL&FS

We are pleased to share that Argus Partners has successfully represented the erstwhile Housing Development Finance Corporation Limited (since merged with HDFC Bank Limited) (‘HDFC’) before the Supreme Court, against Infrastructure Leasing and Financial Services Limited (‘IL&FS’).
22 March 2024
Press Releases

Argus Partners represents Texmaco Rail & Engineering Limited before the Calcutta High Court.

In a recent decision, the Calcutta High Court has observed that to ensure that the best competitor is chosen, the process of selection adopted by a public undertaking is required to be transparent.
22 March 2024
Press Releases

Argus Partners represents Standard Chartered Bank before NCLT, Mumbai in the insolvency and liquidation proceedings of Prag Distillery.

The National Company Law Tribunal, Mumbai (“NCLT”) using its discretionary powers has recently permitted Prag Distillery, a subsidiary of Indian made foreign liquor manufacturer, Tilaknagar Industries, to move out of the liquidation process and, reinstated the board of directors for management of its operations.
22 March 2024
Press Releases

Argus Partners advises on one of the biggest Industrial RTC power projects in India under Group Captive Regime

We are pleased to share that Argus Partners has advised Tata Steel Limited on its investment in one of the biggest industrial RTC (Round-the-clock) hybrid renewable power projects in India under Group Captive Regime, being set up by TP Vardhaman Surya Limited (subsidiary of Tata Power Renewable Energy Limited). Tata Steel will invest 26% equity in the said project.
22 March 2024
Press Releases

Argus Partners advises Ind Swift Laboratories Limited and its promoters on the sale of its API and CRAMS businesses for INR 1,650 crores and the sale of the intermediates manufacturing business of Essix Biosciences Limited to India Resurgence Fund

We are pleased to inform that Argus Partners advised Ind Swift Laboratories Limited (ISLL) (a global manufacturer of APIs, Intermediates, and formulations) and its promoters on the sale of its active pharmaceutical ingredients (API) and contract research and manufacturing services (CRAMS) businesses to Synthimed Labs Private Limited (a special purpose vehicle of India Resurgence Fund) for INR 1,650 crores. Argus Partners also advised Essix Biosciences Limited in relation to the sale of its intermediates manufacturing business to Synthimed and an INR 80 crore investment by ISLL in CCPS and NCDs to be issued by Synthimed. Ind-Swift is amongst the top ten independent merchant API businesses in India in size, with two manufacturing sites in Punjab and Jammu, and a combined reactor capacity of ~700 KL catering to both regulated and unregulated markets. The API business has strong market and cost position with diverse therapeutic presence across the US, Japan, Korea, EU, Brazil and India. Ind-Swift reported a consolidated revenue of INR 1,207 Cr and consolidated EBITDA of INR 256 Cr in FY23. India Resurgence Fund is a leading India-focused investment platform promoted by Piramal Enterprises Limited and Bain Capital. Mr. N.R. Munjal, Chairman and Managing Director of Ind-Swift on this occasion said “Ind-Swift is amongst the largest independent API players in India and has had the track recording of developing API molecules with customer centric approach and has created high quality facilities. We are delighted that IndiaRF, which has a pedigree and track record in transforming businesses across varied sectors, will support and invest in the growth of the business. We are grateful to our team and wish them the best to scale the business to newer heights under the IndiaRF’s stewardship.” The transaction team consisted of Abhinav Bhalaik, Armaan Patkar, Aastha (Partners), Mayank Jhunjhunwala (Principal Associate), Tanya Nair, Ayushi Khetan, Aditi Singh Kashyap and Tweesha Gosar (Associates). Read more at: BWLegalWorld  
22 March 2024
Press Releases

Argus Partners advises BCCI on the media rights auction for International and Domestic Matches of the Indian Cricket Team

We are pleased to inform that Argus Partners has advised the Board of Control for Cricket in India (“BCCI”) on the successful auction of TV and Digital Media rights for international and domestic matches of the Indian Cricket Team for September 2023 to March 2028 cycle. The media rights have been acquired by Viacom18 Media Private Limited for a cumulative figure of Rs. 5,963 crores.
22 March 2024
Press Releases

Argus Partners advises Arkam Ventures on their investment in the Series A funding round of Smartstaff

We are pleased to inform that Argus Partners has advised Arkam Ventures on their investment in Qikwork Services Private Limited which owns and operates the blue-collar staffing platform, ‘Smartstaff’. Smartstaff has raised $6.2 million as a part of its Series A funding round.
22 March 2024
Press Releases

Argus Partners advises an entity forming part of the Conscient Group on its purchase of industrial building and land from Benetton India.

We are pleased to share that Argus Partners has advised an entity forming part of the Conscient Group pertaining to the purchase of industrial building and land measuring 6.6 acres in Gurugram from Benetton India.
21 March 2024
Press Releases

Argus Partners represents Texmaco Rail & Engineering Limited before the Calcutta High Court

In a recent decision, the Calcutta High Court has observed that to ensure that the best competitor is chosen,
21 March 2024
Press Releases

Argus Partners represents Standard Chartered Bank before NCLT, Mumbai in the insolvency and liquidation proceedings of Prag Distillery

The National Company Law Tribunal, Mumbai (“NCLT”) using its discretionary powers has recently permitted Prag Distillery, a subsidiary of Indian made foreign liquor manufacturer,
21 March 2024
Press Releases

Argus Partners advises Arkam Ventures on their investment in the Series A funding round of Smartstaff

We are pleased to inform that Argus Partners has advised Arkam Ventures on their investment in Qikwork Services Private Limited which owns and operates the blue-collar staffing platform, ‘Smartstaff’. Smartstaff has raised $6.2 million as a part of its Series A funding round.
21 March 2024
Press Releases

Argus Partners advises Baba Fine Chemical (BFC) and its founders on the acquisition of 55% stake in BFC by Ami Organics.

We are pleased to inform that Argus Partners has advised Baba Fine Chemical (BFC) and its founders in negotiating and finalizing the purchase agreement in relation to the acquisition of 55% stake in BFC by Ami Organics.
21 March 2024
technology

REGULATING AI

It is undeniable that over the last 2 (two) decades or so, technology has taken a huge leap forward.
09 June 2023
Business

CHANGES TO THE MERGER CONTROL REGIME IN INDIA - COMPETITION LAW UPDATE

Recently the Indian Parliament approved the Competition (Amendment) Bill, 2022 (“Bill”) which introduces significant changes to the Competition Act, 2002 (“Act”).  
05 May 2023
Finance

WINDING UP AIFS SET UP IN THE FORM OF TRUSTS

This paper seeks to outline the grounds for, and compliances involved in winding up of an “alternative investment fund” set up as a trust and discusses a few lacunae in the law in this regard and some common practical issues faced by the fund upon winding up.
05 May 2023
Finance

TO ‘PERKINS’ OR NOT TO ‘PERKINS’

Recently, a Single Bench of the High Court of Calcutta has delivered a judgment, McLeod Russel India Limited v. Aditya Birla Finance Limited (“McLeod Russel”)[1] in an application under Section 14 of the Arbitration and Conciliation Act, 1996[2] (“Act”).
05 May 2023
Data Protection

THE DIGITAL PERSONAL DATA PROTECTION BILL 2022 - An Analysis

The draft Digital Personal Data Protection Bill, 2022 (“DPDPB”) was released on November 18, 2022 by the Ministry of Electronics and Information Technology (“MeitY”) for public consultation, pursuant to its withdrawal of the draft Personal Data Protection Bill 2019 (“PDPB  2019”) in August 2022.
05 May 2023
Finance

SEBI’S PROPOSAL FOR PROVIDING EXITS FROM AIFS – A CRITIQUE

On February 3, 2023, the Securities and Exchange Board of India (“SEBI”) issued a consultation paper (“Consultation Paper”) which sought the views of the general public on proposals floated by SEBI for providing options to Alternative Investment Funds (“AIFs”) and their investors to carry forward unliquidated investments of a scheme upon expiry of its tenure under the SEBI (Alternative Investment Funds) Regulations, 2012 (“SEBI AIF Regulations”), while ensuring proper recognition of asset value and fund performance.
05 May 2023
Real Estate

RERA REGIME - The Exemption Conundrum

Over the years, since the enactment of the Real Estate (Regulation and Development) Act, 2016 (“RERA”), the authorities constituted under RERA (“Authority(ies)”) have adjudicated on various complex issues stemming therefrom. One such issue revolves around the exemptions available to certain real estate projects[1] from being registered under RERA[2].
05 May 2023
Digital Commerce

Open Network for Digital Commerce (ONDC)

Digital commerce, over decades, has grown exponentially and reshaped the global business environment and the manner in which buyers and sellers across the globe transact with each other, leading to a fairer marketplace for all businesses, including small businesses, across the globe. This exponential increase in digital commerce was further fueled by the advent of the COVID-19 Pandemic.
05 May 2023
Finance

Fintech Primer - II

Banks and other financial institutions have always been at the forefront of technology usage for their business purposes. This is usually driven by the need to cut costs, make more profits for shareholders and provide better customer service.
05 May 2023
Press Releases

Argus Partners advises OfBusiness in relation to its acquisition of 100% stake in Koeleman India from Koeleman Foods International B.V.

We are pleased to inform that Argus Partners has advised Softbank and Tiger Global backed, OfBusiness (a raw material procurement and financing platform for small and medium enterprises), in relation to its acquisition of 100% stake in Koeleman India from Koeleman Foods International B.V.
12 April 2023
Press Releases

Argus Partners advises Spendflo and its promoters on their USD 11 Million Series A Fundraise

We are pleased to inform that Argus Partners has advised SaaS buying and management platform, Spendflo and its promoters, on their Series A fundraise of USD 11 million led by Naspers Ventures (Prosus), with participation from Accel, Together Fund and certain other angel investors.
12 April 2023
Press Releases

Argus Partners advises Tega Industries Limited on its resolution plan for acquisition of McNally Sayaji Engineering Limited

We are pleased to inform that Argus Partners has successfully advised Tega Industries Limited (“Tega”) in obtaining approval from the Kolkata bench of National Company Law Tribunal for the resolution plan submitted for acquisition of McNally Sayaji Engineering Limited (“MSEL”), which was undergoing corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016.
14 March 2023
Press Releases

Argus Partners advises Whiteboard Capital Fund in ONWO’s Seed Funding Round

We are pleased to announce that Argus Partners has acted as the legal counsel to Whiteboard Capital Fund in relation to its participation in USD 1.6 million seed funding round of Onwo Trade India Private Limited (which operates a B2B cross-border marketplace to transact and fulfil orders of processed food products from Indian manufacturers under the brand name “ONWO”).
21 February 2023
Press Releases

Argus Partners advises BCCI in the historic Women`s Indian Premier League media rights auction for the 2023‐2027 cycle

We are delighted to inform that Argus Partners has advised the Board of Control for Cricket in India (BCCI) in the historic Women’s Indian Premier League (WIPL) media rights auction for the 2023‐2027 cycle.
24 January 2023
Press Releases

Argus Partners Equity Compensation Structure

We are pleased to inform that Argus Partners has transformed its equity partnership structure into a ‘Modified Lockstep’ model. The lockstep model adopted by the Firm is based on the principles of transparency, fairness and clarity in progression. The model aims to be open, performance driven yet, accommodative and serve as an instrument of good governance for the Firm.
24 January 2023
Cryptocurrency

NON-FUNGIBLE TOKENS: TRAVERSING THE CRYPTOVERSE

Non-fungible tokens or NFTs, as they are more popularly known, are digital collectible tokens, unique in form (hence non-fungible) which are verified and secured by a blockchain. NFTs provide and represent the authenticity of origin of an underlying work/item, its ownership, scarcity as well as its permanence.
28 November 2022
Arbitration

BINDING NON-SIGNATORIES TO ARBITRATION: TRACING THE EVOLUTION OF THE LAW SINCE MTNL V. CANARA BANK

In November, 2019, in our paper titled, ‘Charting the Shifting Paradigms of Binding Non-Signatories to an Arbitration’ [1], we had analysed the issue, whether a party who was not a signatory to an arbitration agreement could also be bound by such an agreement?
28 November 2022
Arbitration

INTERPLAY BETWEEN THE MSME ACT, 2006 AND THE ARBITRATION AND CONCILIATION ACT, 1996

In India, most arbitrations are governed by the Arbitration and Conciliation Act, 1996 (“1996 Act”). However, in certain cases, statutes provide for a statutory mechanism of arbitration where the Act may or may not apply [1]. In the case of the Micro, Small, and Medium Enterprises Development Act, 2006 (“MSME Act”), the same provides for statutory arbitration governed by the MSME Act for resolution of disputes between the parties, with the provisions of the 1996 Act also being applicable to such arbitral process.
25 November 2022
Power

ELECTRIC VEHICLE INDUSTRY IN INDIA- A Regulatory Overview

To reduce its carbon emissions and give a much-needed boost to the manufacturing and adoption of Electric Vehicles (“EV”), the Government of India, in March 2011, launched the National Mission of Electric Mobility (“Mission”) to promote electric mobility in the country. India also made a firm commitment at the United Nations Climate Change Conference held in Paris on December 12, 2015, to reduce its carbon footprints and revamp the existing energy infrastructure to make it more sustainable and viable.
25 November 2022
TMT

CERT-IN’S SIX HOUR REPORTING RULE FOR CYBER SECURITY INCIDENTS- Statutory Interpretation and Analysis

Any person affected by a cyber security incident is required to mandatorily report such incident to the Indian Computer Emergency Response Team (“CERT-In”) if it is of a specified type. With effect the June 27, 2022, the deadline for such reporting has been fixed at 6 (six) hours of the incident being noticed or being brought to the attention of the concerned person. This paper analyses this new rule and its impact and compares it against similar rules for reporting cyber security incident across the world.
25 November 2022
Employment

GETTING PRIORITIES RIGHT ANALYSIS OF PRIORITY OF PROVIDENT FUND DUES IN RELATION TO A COMPANY UNDERGOING CIRP

The Employees Provident Funds Miscellaneous Provisions Act, 1952 (“EPF Act”) was enacted as a statute keeping in mind the Directive Principles of State Policy enshrined under Articles 38 and 43 of the Constitution of India to ensure social security for the employees working in an establishment. Whilst the EPF Act has an in-built mechanism to protect the interests of the employees from erring employers failing to pay their relevant contribution, priority of such dues assumes different dimension when the company is undergoing corporate insolvency resolution process (“CIRP”) under the Insolvency and Bankruptcy Code, 2016 (“IBC”).
25 November 2022
Valuation

VALUATION OF COMPANIES: A LEGAL ANALYSIS

The issue or transfer of equity shares or other securities invariably involves the valuation of the underlying company. The principles and rules for valuing companies lie at the intersection of law and accounting. Various statutes and regulators are involved in this crucial activity. Company law seeks to ensure that companies do not shortchange their existing shareholders by issuing securities below their fair market value. The Reserve Bank of India has issued a number of rules and regulations under the Foreign Exchange Management Act, 1999 to staunch the outflow of foreign exchange on account of non-residents underpaying for Indian securities or selling Indian securities to Indian residents at prices exceeding their fair market value. The Securities and Exchange Board of India endeavours to prevent investors, especially retail investors, from being offered securities at a value higher than the applicable fair market value. Income tax authorities too have an interest in ensuring fair valuation of securities that are issued or bought and sold, to prevent tax evasion. This paper delves into the myriad laws, rules and regulations that are at play, in relation to the valuation of companies.
25 November 2022
Press Releases

Argus Partners advises Piramal Capital and Housing Finance Limited in connection with its investment in EarlySalary

Argus Partners has acted as the legal counsel to Piramal Capital and Housing Finance Limited in connection with its investment in fintech start-up, ‘EarlySalary’.
07 September 2022
Press Releases

Argus Partners advises Phoenix Mills Limited in its successful bid to acquire 5.6 acres of mixed-use plot in the prime location in Alipore, Kolkata

Argus Partner has acted as the legal counsel to Phoenix Mills Limited in its successful bid to acquire 5.6 acres of mixed-use plot in the prime location in Alipore, Kolkata.
07 September 2022
Press Releases

Argus Partners advises MedGenome in its USD 50 million Series D fund-raise

Argus Partners has acted as the legal counsel for MedGenome, a Bengaluru based genetic diagnostics, research and data company, in its USD 50 million Series D fund raise, led by Novo Holdings.
07 September 2022
Press Releases

Argus Partners advises Together Fund in Privado`s Series A fundraise of $14 million

Argus Partners has acted as the legal counsel for Together Fund in data privacy start-up, Privado`s, fundraise of $14 million (~Rs. 111 crore) in its Series A round.
07 September 2022
GDPR/Data Protection

PROTECTION OF CONFIDENTIAL INFORMATION WITHOUT A CONTRACT

Introduction Signing of confidentiality agreements to protect confidential information is common practice. However, what happens when there is no such confidentiality agreement? Is confidentiality of confidential information required to be maintained even if there is no express contract, or is a written contract necessary to protect confidentiality? This is the question that is explored in this paper.
02 October 2020
Projects, energy and natural resources

FORCE MAJEURE IN THE TIME OF COVID-19

While the world is grappling with the outbreak of the novel coronavirus (Covid-19), the lockdowns and restrictions that have been imposed to contain this pandemic, have brought businesses to a grinding halt. In such unprecedented times, when the wheels of global and regional supply chains are clogged, it becomes imperative to have a relook at all existing contractual arrangements, so that bullets of breaches and damages may be dodged in time.
10 June 2022
Employment

Employing Caution – A Practical Guide for Employers to deal with COVID-19 Situation in Workplace

These are extraordinary times. People are unsure as to when pandemic created by the novel coronavirus (Covid-19) would cease and the normalcy would return. With the vast majority of the labour force having returned to their homes, most factories across the country have either suspended operations or operating significantly below their stated capacity. The economic burden will be staggering and establishments shall have to take a relook at their wage cost. The present FAQs is an attempt to explain the extant labour specific laws in a simple manner to the countless employers, who are searching for solutions for various issues.
10 June 2022
Corporate and Commercial

Private Funds Update - Some Issues arising out of SEBI'S Circular dated February 5, 2020 for Alternative Investment Funds

The Securities and Exchange Board of India (“SEBI”) issued circular no. SEBI/HO/IMD/DF6/CIR/P/2020/24 dated February 5, 2020 (“Circular”) that introduces standard templates for alternative investment funds’ (“AIF”) private placement memorandums (“PPM”), annual audits of compliance with the terms of the PPM and mandatory performance benchmarking for AIFs with provisions for additional customised performance reporting. An overview of the key changes introduced by the Circular can be found here. This note discusses a few issues arising out of the Circular.
03 March 2020
Corporate and Commercial

New Rules for Takeover of Unlisted Companies and consequent Minority Squeezeout

Section 230 of the Companies Act, 2013 (“Companies Act”) sets out the process for a scheme of arrangement between a company and its creditors and shareholders (“Scheme”). Such Schemes have to be approved by the National Company Law Tribunal (“NCLT”).
25 February 2020
Projects, Energy & Natural Resources

The Mineral Laws (Amendments) Ordinance - Key Changes

The mining industry has historically been one of the more heavily regulated industries in India, with a strong legal and regulatory structure governing the same. With a view to leverage this market and to ensure continuity in mining operations, the Mineral Laws (Amendment) Ordinance, 2020 (the “Ordinance”) was promulgated on January 10, 2020.
10 February 2020
Finance

Private Funds Update - SEBI introduces new requirements for AIFs

On February 5, 2020, the Securities and Exchange Board of India (“SEBI”) issued a circular (“Circular”) introducing significant changes to the existing legal regime concerning alternative investment funds (“AIFs”). AIFs are privately-pooled investment funds which collect funds from investors, whether Indian or foreign, for investing in accordance with a defined investment policy for the benefit of the investors. AIFs are governed by the SEBI (Alternate Investment Fund) Regulations, 2012 (“AIF Regulations”).
10 February 2020
Tax & Private Client

SELF-REPORTING A PERSONAL DATA BREACH - AN OBLIGATION UNDER THE PERSONAL DATA PROTECTION BILL 2019

Imagine for a moment that traffic rules required every motorist and pedestrian to self-report any violation of traffic rules. If you violate any traffic rule, you have to inform the traffic police by filing an online report within 12 (twelve) hours of the violation. After you report, you will receive a suitable punishment, which could be a fine or imprisonment or both. The traffic police department may also publicise your violation, at its discretion, either by posting details of your violation on the traffic police department’s website or by ordering you to stick a notice containing details of your violation on an outer wall of your dwelling or both. In case you fail to report and your violation is detected through any other means, be it a security camera or on account of any other motorist or pedestrian reporting an incident, you shall also, in addition to the penalty for your violation, be penalised for the failure to report.
18 March 2020
TMT ( Technology, Media & Telecoms)

Blockchain Technology - A Review

A blockchain, as its name suggests, is a virtual chain made of blocks, where each block contains information.
24 February 2020